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United States
Securities and Exchange Commission
Washington, DC 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934
Commission File Number 000-27663
SATYAM INFOWAY LIMITED
(Exact name of registrant as specified in its charter)
Not Applicable
(Translation of registrant's name into English)
Republic of India
(Jurisdiction of incorporation or organization)
Maanasarovar Towers
271-A, Anna Salai, Teynampet, Chennai 600 018, India
(91) 44-435-3221
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F. Form 20F X Form 40 F _____
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Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ______ No X
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If "Yes" is marked, indicate below the file number assigned to registrant in
connection with Rule 12g3-2(b). Not applicable.
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Other Events.
On June 5, 2000, Satyam Infoway Limited ("Satyam Infoway" or the "Company")
issued a press release announcing its strategic investment in, and partnership
with, CricInfo Limited, a private company incorporated in England and Wales
under the Companies Act 1985 to 1989 ("CricInfo"). Satyam Infoway will purchase
a 25% stake in CricInfo for an aggregate of $37.5 million of Satyam Infoway's
American Depositary Shares ("ADSs"). Of the ADSs to be issued, $21.5 million
will be issued to shareholders of CricInfo in exchange for the transfer of
outstanding CricInfo shares to Satyam Infoway and $16.0 million will be issued
to CricInfo in exchange for newly issued CricInfo shares. The number of ADSs
issued will be based on the price of the ADSs on Nasdaq on the day prior to
completion of Satyam Infoway's acquisition of the CricInfo shares. A copy of the
press release is attached hereto as Exhibit 99.1 and incorporated by reference
herein.
This report contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. The forward-looking statements
contained herein are subject to risks and uncertainties, including the need for
Satyam Infoway to issue the ADSs necessary to finance the acquisition of
CricInfo shares and complete the acquisition, that could cause actual results to
differ materially from those reflected in the forward-looking statements. For a
discussion of the risks associated with Satyam Infoway's business, please see
the discussion under the caption "Risks Related to Our Business" in Satyam
Infoway's Report on Form 6-K for the quarter ended December 31, 1999 which has
been filed with the Securities and Exchange Commission.
Exhibits.
(c) Exhibits:
99.1 Press release dated June 5, 2000.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunder duly organized.
Date: June 14, 2000 SATYAM INFOWAY LIMITED
By: /s/ T. R. Santhanakrishnan
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Name: T.R. Santhanakrishnan
Title: Chief Financial Officer
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EXHIBIT INDEX
Exhibit Number Description
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99.1 Press release dated June 5, 2000.
